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Tag search: "World Bank"

WHO elections

Ethiopia's Tedros Faces Challenges as New WHO Chief

Tedros wants to broaden the WHO’s funding strategy and raise money not only for the agency but for organizations that share common goals, including the Global Fund, the World Bank, GAVI and the Vaccine Alliance. It quotes Tedros from an opinion piece he wrote for The BMJ Journal in which he argued “WHO needs to move away from vertical funding to basket funds that can be used for broad health priorities determined by its member states

May 26, 2017
Voice of America

Promoting health through the life course

Child marriages will cost poor countries trillions of dollars

Child marriage will cost developing countries trillions of dollars in the next decade, seriously hampering global efforts to eradicate poverty, the World Bank said. An estimated one in three girls in the developing world is married before the age of 18, with one girl married off every two seconds, according to experts. The World Bank said ending child marriage would reduce population growth, boost girls` educational achievements and increase their earnings. It would also lead to women having healthier and better educated children, further boosting prosperity

June 27, 2017

The World Bank reinvents itself – and puts poverty reduction at risk

The World Bank’s relationship with US president Donald Trump has raised concerns about its political neutrality in recent weeks, but a larger and potentially much more important shift in how the Bank operates is underway.” “The World Bank” say many academics and policy analysts, “is reinventing itself, from a lender for major development projects, to a broker for private sector investment.” “De-risking” entire countries for private sector investors is likely to include policies such as strict inflation controls, large-scale privatisations, rapid trade liberalisation and strong government cutbacks on social spending. These have in the past made World Bank lending activities notoriously destructive for developing countries

June 21, 2017
Sierra Leone Telegraph

Record hunger in Horn of Africa pushes development banks to step in

In an unprecedented move, the World Bank is giving $50 million to the International Committee of the Red Cross (ICRC) and the UN Food and Agriculture Organization to distribute emergency food, water and cash in Somalia. The African Development Bank (ADB) has also announced $1.1 billion to combat drought in six countries, mostly in the Horn of Africa. In a "Grand Bargain", struck at last year`s World Humanitarian Summit, donors promised to make their funding more flexible to respond to growing humanitarian crises globally

June 13, 2017

Climate fund criticized by Trump has slow, complex start

The $10 billion Green Climate Fund that US President Donald Trump said was a waste of tax dollars has fallen behind on its goals, with a biggest pay out so far of just $5 million for a US-led solar energy project. Work at the international fund, which aims to help poor nations cut greenhouse gas emissions and adapt their economies to heatwaves, storms and rising seas has been slowed by legal red tape and the approval process, board members say. The fund also faces legal complexities in starting to work with multilateral lenders such as the World Bank, the Asian Development Bank or private banks. Once agreements are in place, a flood of disbursements is expected to follow

June 13, 2017

Health systems

World Bank program will speed response to pandemics

The bank has announced the issuance of $500 million in specialized bonds and derivatives that will help poor countries cope with a pandemic such as Ebola. The effort will create a trust fund, the Pandemic Emergency Financing Facility, that can be quickly deployed for pandemic response. Investors who buy the bonds and provide the trust-fund financing upfront will reap premiums but will also be taking a risk. If there is a major outbreak, the investors will lose some or all of their cash. One big advantage is that instead of waiting around for slow-moving national governments to fund a disease response, the resources necessary for saving lives will be available quickly

July 10, 2017
Omaha World-Herald

Communicable diseases

Getting clean power to the poor hits a bump

Around one in seven people – just over one billion – still have no access to electricity, a new tracking report by the World Bank and the International Energy Agency (IEA) pointed out, saying the figure has barely moved in two years. The report identified a lack of political leadership as a main cause, adding that getting clean energy to the poor is vital if the world is to achieve other goals linked to ending poverty and boosting healthcare and education

April 3, 2017
Deutsche Welle, UN News